Economic indicators point to a flattening of revenues in Frisco
FRISCO – As October nears, so does the time for budgeting, and Frisco Town Manager Alan Briley said he hopes the town’s revenues will meet those predicted for this year.
Town officials predicted $5,845,982 in revenues for the current fiscal year. Monthly numbers are collected two months in arrears, Briley said, and the first seven months of the year have brought in only 52 percent of the projected revenues.
August and September typically are strong months, so Briley said there’s a chance the town might make up for what they’re lacking to date. Still, all indications point to a flattening of revenues in Frisco.
In the four years from 1997 to 2001, Frisco’s revenues increased at an average of 4.6 percent per year, Briley said.
“Last year was only about 1.2 percent above 2000, so (revenues) started levelling out in 2001,” he said.
As this fiscal year comes to a close, town staff already have begun to predict next year’s revenues – which likely will be flat, or, perhaps, will decline.
“Next year, we’re projecting our revenues are going to be $5 million even,” Briley said, adding that town officials expect to lose revenue from Wal-Mart (one of the town’s largest revenue producers) once Target opens in Silverthorne in the spring, among other reasons. That $800,000 loss in budget “means a lot,” he said. “Before I got here, the direction to the staff was to project a flat-line budget.”
But some things, like electricity and fuel, increase despite efforts to keep spending even. The town’s contribution to the County Communications Center also has increased – by $60,000.
“Those are the kind of unforeseen things,” Briley said. “It’s hard to project flat-line when you have these things you have no control over.”
Briley said the town does not plan to increase fees. Instead, it might have to dip into its reserves. If that’s not enough, town officials will have to cut back on the number of capital projects, such as paving roads.
“The last thing we want to do is look at a decrease in programs,” he said. “That’s the last thing we want to look at when decreasing expenditures.”
Council members will have three worksessions in October for next year’s budget – Oct. 8, 15 and 22. The public is welcome to attend. For more information and exact times, contact the Frisco Town Hall at (970) 668-5276.
Lu Snyder can be reached at (970) 668-3998, ext. 203, or email@example.com.
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